Be Wealthy & Smart

Learn about the housing market and how much homes have appreciated in U.S. markets. Could we be near a real estate peak? Here is the article: https://www.cnbc.com/2017/11/28/if-you-own-a-cheaper-house-youre-in-the-money.html Get my free report "11 Quick Tips to Boost Your Wealth" at http://lindapjones.com.

Learn 7 ways to develop a millionaire mindset. This is from Secrets of the Millionaire Mind by T. Harv Eker. The article is here: http://psychologyformarketers.com/how-to-develop-a-millionaire-mindset/ Get "11 Quick Financial Tips to Boost Your Wealth" at http://www.lindapjones.com.

Ten questions to find out if you know what it takes to reach $1 million. Here is the article: https://www.kiplinger.com/quiz/saving/T063-S001-do-you-have-what-it-takes-to-be-a-millionaire/index.html#kip-page18

Learn why "money is like a newborn baby. You have to prepare for it and learn about it BEFORE it arrives. If you wait until after it arrives to start making preparations, you're screwed." - Linda P. Jones Get my "11 Quick Tips to Boost Your Wealth" at http://lindapjones.com

Learn what to do, what not to do, how to be safe and where to put money when the stock market crashes.

Learn 3 ways millionaires think differently and how you can apply it to create your wealthy mindset. The article is posted here. Please subscribe and leave me a review on iTunes or Stitcher Radio.

Learn why spending to save money can be a trap. Shopping - have you ever still had tags on clothes you've never worn in the closet? How does that happen? Something happened that I wasn't conscious of until now. I bought 2 velour sweatsuits. Looked at other pieces but didn't like them. Next they were on sale. I picked out 5 to try on, even though I didn't like them the week before. Suddenly I was convincing myself that they were such a good deal I should just get all 5! Then I caught myself. Wait a minute. I don't even like them! The "savings" idea had taken over my logical brain! This is how we get clutter, clothes we don't wear, etc. It has to be based on price because if we liked it, we would wear them! Our closets get full of shoes and clothes that we "collect", but we can only wear one at a time. If you wore one pair of shoes or one top without repeating, how many days until it took you to wear them all? Are you not going to wear something, in order to wear this? Closets are becoming poverty traps! Money is pouring into things we don't even wear while retirement accounts go without funding. Next time you are buying multiples, ask yourself, do I really like these? Do I want to wear them tomorrow? Because if you're not excited to wear it, you don't really want it. "Saving" by spending is a fallacy. The only real saving is putting money into an account where your net worth increases. Hit the subscribe button for instant notice of new podcasts! Move your net worth in the right direction by getting "11 Quick Financial Tips to Boost Your Wealth" at http://www.lindapjones.com.

Learn why it's not a good idea to loan money from your 401(k). Here is the link to the article: https://money.usnews.com/investing/investing-101/articles/2017-11-07/401k-loans-retirement Hit the subscribe button for instant notice of new podcasts! Move your net worth in the right direction by getting "11 Quick Financial Tips to Boost Your Wealth" at http://www.lindapjones.com.

Learn what 3 things not to do when investing. The link to the article is here: https://www.cnbc.com/2017/11/07/financial-advisor-john-spooner-dont-make-these-3-investing-mistakes.html Hit the subscribe button for instant notice of new podcasts! Move your net worth in the right direction by getting "11 Quick Financial Tips to Boost Your Wealth" at http://www.lindapjones.com.

Learn why it's the big mistakes that keep you from financial success, not the small ones. Here's another article about giving up coffee or cigarettes and how it will make you rich. Article from Business Tech: "Why your daily coffee is stopping you from becoming a millionaire." There are sayings like, "Watch your pennies and the dollars will take care of themselves." "A penny saved is a penny earned." Just give up lattes and invest that money instead…and eventually you'll become a millionaire. "The Latte Factor" was invented by author David Bach, whom I really respect. I believe it was a demonstration of compounding more than selling the idea of skipping coffee. Over a long enough time, compounding even a small amount will grow into millions. What the purchasing power will be is another question. I disagree with this frugal focus. It's not the small stuff that gets ya, it's the BIG mistakes. Moving costs/interest/commissions/remodeling costs from moving often will cost you a lot more than a few dollars. Buying cars every 3 to 4 years is a mistake that will cost you thousands. Invest that and over 25 years it can be $250k. Where people go wrong is not learning how to invest. A friend has had success with real estate, which is great, but in 2008 almost lost everything because a luxury spec home they build which they thought would sell for $3 million at the peak, they had to let go for a $1.5 million, below their breakeven. Instead of investing, I noticed their house it full to the brim - drawers in the guest room are full, guest closets are all full, the garage is too full for 2 cars, the basement is packed full of stuff! That tells me there are no investing goals that are being followed, there's a lot of spending that's extraneous and things aren't being used. It's not for me to judge, but I do notice that there's no money for anything because there's so much clutter! How many people are surrounded by clutter from small purchases that make you feel good or volume purchases at COSTCO that accumulates a lot of stuff you don't use. These are the reasons you haven't reached your financial goals. That - and an investment plan that will help you compound at a higher rate (Step 5 of the 6 Steps to Wealth). The reason why a home is the largest asset for a lot of people is not just because home prices has been one of the best performing asset classes for the last 20 years, but because of the "forced savings" that a mortgage causes you to have. Paying a payment for 30 years, is a forced discipline that is paying off your interest and principal monthly. As you pay down your debt, the equity in your home increases, thereby giving you more net worth every month. Disciplined investing (in this case by borrowing), is a secret that will help you build wealth. Regular deductions into a 401k or IRA or mutual fund or brokerage account will provide systematic payments into investments that can compound at 8 to 10% over the long run, if history repeats. So let's not sweat the coffee. Watch the hundreds and thousands you spend, not the pennies. The article is posted here: https://businesstech.co.za/news/finance/182407/why-your-daily-coffee-is-stopping-you-from-becoming-a-millionaire/ Please subscribe and leave me a review on iTunes or Stitcher Radio. Connect with me on social media at Twitter and IG @Lindapjones and Facebook @lindapjonesfanpage. Get "11 Quick Tips to Boost Your Wealth" at http://lindapjones.com.